Prices mostly fall; Lucent advances

WASHINGTON (CBS.MW) - Telecommunications stocks drifted lower in Thursday action, with only a few stocks like Lucent Technologies, Comverse Technology and Level 3 Communications breaking out for modest gains.

Lucent
LU
climbed 4.1 percent to $2.29, basking in the glow of $230 million in contracts in China -- to lead the American Stock Exchange's Networking Index. And Comverse
CMVT
added 2.8 percent in value to $15.10.

Yet the index itself slipped 0.7 percent, as 12 of its 15 component stocks fell. Advanced Fibre Communication
AFCI
was the top decliner, off 4.5 percent to $21.36.

The more broadly based Nasdaq Telecommunications Index fell percent. Seventeen of the 20 largest stocks tacked lower, though most stocks clung closely to closing prices from the prior trading session.

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